Broker Name:Kevin Chung
Broker Email:info02@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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20 Year Established Barber Shop
(Hair & Beauty)
Collin, Texas
Listed Price: $ 79,000
Listing ID: 000844

Listing DetailsDown Payment: $ 40,000
Gross Revenue: $ 155,632
Cash Flow: $ 48,021
FFE: $ 25,000 (Included in Price)
Inventory: $ 500 (Included in Price)
Reason for Sale:

Burned out/Retirement


Training & Support:

Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

20-year established barber shop providing haircuts, color and shaving for men of all ages is now available for acquisition. This business was originally established 20 years ago in 1999 by the current owner of the business, and the business has outgrown the space and the owner has expanded into the current location in 2004. This business is located in a 1,150 SF of retail strip center that is anchored by global coffee shop and is next to an intersection with consistent heavy traffic and is surrounded by densely populated residential neighborhoods in all 4 directions. Most of the customers are Caucasian male individuals of all ages and ethnic groups from the surrounding densely populated residential neighborhoods and this business has built a loyal customer base for 20 years that span from the local area to distant cities. Competition is expected in this industry, but it hasn't affected the sales of the business because each shop has its own loyal customers. This full-service barbershop provides haircuts, color and shaving for men of all ages with superior service and quality. Gross sales of this business have been consistent for the last several years around $180,000-$190,000 per year without any marketing except for Facebook and general business listings on Yelp & Google. There are many ways to proactively market this business such as direct mailing, weekly specials and social media outlets etc. As the current owner does not put much effort into marketing, more proactive buyer can greatly benefit by building its own website, create more exposure online, set up online reservation system for clients' convenience, and hire more barbers to generate more revenue. This business is well established and has built solid customer base and just needs more proactive owner to market the business in the social media outlet and can reach its full financial potential.


Competition:

The business has built up solid customer base nearly the past 20 years by providing high quality service and affordable price point.


Potential Growth:

There is minimal marketing done other than Facebook and Yelp and through word of mouth. Proactive marketing methods, especially online and social media outlets, to create more exposure and reach its full financial potential.


Financing/Terms:

100% cash at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers.


LocationSquare Footage: 1150
Facilities:

This business in a 1,150 SF space of retail strip center is located next to an intersection with consistent heavy traffic and nearby densely populated residential area and small businesses that attract numerous of people to the area. All equipment is in impeccable condition and in working order.


OperationYear Established: 1999
Employees: 2FT
Absentee Owner: No